“In the hierarchy of funding sources for a client, a reverse mortgage ranks towards the bottom, just above taking a premature IRA or 401(k) distribution and paying the taxes and penalties,” said Joseph Conroy, a CFP at Synergy Financial Group in Towson, Md. “It is expensive, it takes away from future options and flexibility and should really only be considered as a last resort type of option.”
“When building a portfolio of forever stocks, you are usually facing a decision of buying a stock for income or for growth potential,” says Joseph Conroy, financial planner with at Maryland-based Synergy Financial Group. But he also notes that cigarette company Altria(MO, $53.36) “appears it might be able to offer both.”
Tax laws have traditionally been complicated for taxpayers to understand. The recently passed Tax Cuts and Jobs Act (TCJA) has added another layer of confusion — at least for the immediate future. As tax time approaches, many taxpayers are wondering how it will affect their tax bill when they file for 2018. New law or not, it’s […]
And if you find you’re on the borderline between taking the standard deduction and itemizing, shifting some deductible expenses to the current year could make itemizing more beneficial, notes Joseph Conroy, a certified financial planner at Synergy Financial Group in Towson, Md. “For instance, making extra mortgage payments prior to the end of the year would entitle […]